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Stocks to Watch on May 02, 2023: The markets are likely to start today's trading session on a positive note as indicated by the overseas Nifty futures. At 07:30 AM, the SGX Nifty May futures quoted at 18,238, indicating an opening gain of 100-odd points.
Meanwhile, the following stocks are likely to be in action in trades on Tuesday.
Earnings Watch: Ambuja Cements, Adani Total Gas, Fino Payments Bank, Jindal Hotels, PSB, Spandana Sphoorty, Tata Steel, Uco Bank and Varun Beverages are few of the prominent companies scheduled to announce March quarter results today.
Adani Group: Shares of Gautam Adani-led Group companies are likely to be in focus on reports that the Sebi may approach the Central government or law-enforcement agencies to be able to get information from foreign jurisdictions in the Adani-Hindenburg case. READ MORE
Auto stocks: TVS Motor reported a strong 29 per cent YoY growth in sales in April 2023, the highest among home grown auto-makers. Hero MotoCorp sales dipped 3.1 per cent YoY. Tata Motors' monthly sales in April were down 4 per cent to 68,514 units. Maruti sales rose 6.5 per cent YoY to 1.6 lakh units.
Reliance: A meeting of the creditors and shareholders of the company is likely to be held today to consider and approve the proposed scheme of arrangement between Reliance Industries and Reliance Strategic Investments. After the demerger, the name of the Reliance Strategic Investments shall be changed to Jio Financial Services, and will possibly get listed on the stock exchanges.
ONGC, Oil India: The government has slashed windfall tax on Crude Oil produced at home to Rs 4,100 per tone from Rs 6,4000 per tone.
UltraTech Cement: The company’s net profit declined 36.1 per cent YoY to Rs 1,670.10 for the fourth quarter ended March 2023 when compared with Rs 2,613.75 crore in the corresponding quarter a year ago. Total income, however, grew 17.7 per cent YoY to Rs 18,562.38 crore.
Adani Green Energy: The Adani group company reported a 319 per cent YoY surge in net profit to Rs 507 crore against Rs 121 crore in the year ago period. Revenue rose 78 per cent to Rs 2,598 crore vs Rs 1,461 crore.
Adani Green Energy: The Adani group company reported a 319 per cent YoY surge in net profit to Rs 507 crore against Rs 121 crore in the year ago period. Revenue rose 78 per cent to Rs 2,598 crore vs Rs 1,461 crore.
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Sugar stocks: The Centre is likely to impose a blanket ban on sugar export in the wake of rising prices after lower-than-expected production in the 2022-23 season. READ MORE
NDTV: The Adani-owned media firm reported a sharp 97.6 per cent plunge in Q4 net profit. The net dropped to Rs 0.60 crore for the quarter ended March 2023 from Rs 24.16 crore in the quarter ended March 2022. Revenue declined 35.5 per cent YoY to Rs 66.96 crore.
SBI Card: The company reported a 2.6 per cent YoY growth in Q4FY23 net profit at Rs 596 crore, led by increase in finance and operating costs. Total income was up 30 per cent YoY at Rs 3,917 crore. READ MORE
L&T Finance Holdings: The retail-focused lender reported a 46 per cent YoY jump in Q4 consolidated net income to Rs 501 core, boosted by better margins as its high-yielding retail book grew at a faster pace.
Blue Star: The company’s board to consider a proposal for bonus issue of shares on May 04.
Aarti Drugs: The company’s consolidated net profit was up 1.6 per cent YoY at Rs 56.18 crore for Q4FY23, while total income grew 6.6 per cent to Rs 743.28 crore.
Patanjali Foods: The company has signed a non-binding Memorandum of Understanding (MoU) with the Government of Telangana for establishment of a food processing unit in Nalgonda district with capital investment of Rs. 1,050 crore.
GHCL: The company’s Q4FY23 net profit declined 16.2 per cent YoY to Rs 218.31 crore from Rs 260.61 crore in Q4FY22. Total income, however, was up 7.9 per cent at Rs 1,141.25 crore.
RBL Bank: The private lender reported a 37 per cent YoY growth in net profit at Rs 271.05 crore for the quarter ended March 2023. Total income increased by 20 per cent to Rs 3,170.32 crore.
IDFC First Bank: The bank’s board has approved a debt borrowing plan for up to Rs 5,000 crore. Meanwhile, the bank’s Q4 net zoomed over 134 per cent YoY to Rs 802.62 crore, backed by a 45.3 per cent surge in total income to Rs 7,821.83 crore.
